UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-17f-2
Certificate of Accounting of Securities and Similar
Investments in the Custody of
Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
1. Investment Company Act Rule Number:
811-4379
2. State identification Number:
3. Exact name of investment company as specified in registration statement:
PLAN INVESTMENT FUND, INC.
4. Address of principal executive office (number, street, city, state,
Zip code):
225 N. MICHIGAN AVENUE, 6TH FLOOR
CHICAGO, IL 60601
Management Statement Regarding Compliance with Certain
Provisions of the Investment Company Act of 1940
August 30, 2000
PricewaterhouseCoopers LLP
2400 Eleven Penn Center
Philadelphia, PA 19103
We, as members of management of Government/Repo, Money
Market and Short-Term Portfolios (collectively the
"Funds"), of the Plan Investment Fund, Inc are responsible
for complying with the requirements of subsections (b) and
(c) of Rule 17f-2, "Custody of Investments by Registered
Management Investment Companies," of the Investment Company
Act of 1940. We are also responsible for establishing and
maintaining effective internal controls over compliance with
those requirements. We have performed an evaluation of the
Funds' compliance with the requirements of subsections (b)
and (c) of Rule 17f-2 as of June 30, 2000 and from April 28,
2000 through June 30, 2000.
Based on this evaluation, we assert that the Funds were in
compliance with the requirements of subsections (b) and (c)
of Rule 17f-2 of the Investment Company Act of 1940 as of
June 30, 2000 and from April 28, 2000 through June 30, 2000,
with respect to securities reflected in the investment
account of the Funds.
Plan Investment Fund, Inc:
By:
/s/Edward J. Baran
Edward J. Baran,
President and Chief Executive Officer
Report of Independent Accountants
To the Board of Trustees of
the Plan Investment Fund, Inc.:
We have examined management's assertion, included in the
accompanying Management Statement Regarding Compliance with
Certain Provisions of the Investment Company Act of 1940, about
the Plan Investment Fund, Inc. (the "Fund"), consisting of the
Government/Repo, Money Market and Short-Term Portfolios,
compliance with the requirements of subsections (b) and (c) of
Rule 17f-2 under the Investment Company Act of 1940 ("the Act")
as of June 30, 2000. Management is responsible for the Fund's
compliance with those requirements. Our responsibility is to
express an opinion on management's assertion about the Fund's
compliance based on our examination.
Our examination was conducted in accordance with attestation
standards established by the American Institute of Certified
Public Accountants and, accordingly, included examining, on a
test basis, evidence about the Fund's compliance with those
requirements and performing such other procedures as we
considered necessary in the circumstances. Included among our
procedures were the following tests performed as of June 30,
2000, and with respect to agreement of security purchases and
sales, for the period from April 28, 2000 (the date of our last
examination), through June 30, 2000:
Confirmation of all securities held by institutions in book
entry form, at the Federal Reserve Bank of Cleveland, the
Depository Trust Company, the Participatory Trust Company,
and Bankers Trust Company;
Confirmation of all securities out for transfer with broker
or alternative procedures;
Reconciliation of all such securities to the books and
records of the Fund and the Custodian, PNC Bank, National
Association;
Confirmation of all repurchase agreements with brokers/banks
and agreement of underlying collateral with the custodian
records; and
Agreement of two security purchases and six security sales
or maturities since our last report from the books and
records of the Fund to trade confirmations or alternative
procedures.
We believe that our examination provides a reasonable basis for
our opinion. Our examination does not provide a legal
determination on the Fund's compliance with specified
requirements.
In our opinion, management's assertion that the Plan Investment
Fund, Inc., was in compliance with the requirements of
subsections (b) and (c) of Rule 17f-2 of the Investment Company
Act of 1940 as of June 30, 2000 with respect to securities
reflected in the investment account of the Fund is fairly stated,
in all material respects.
This report is intended solely for the information and use of the
Board of Directors, management, and the Securities and Exchange
Commission and is not intended to be and should not be used by
anyone other than these specified parties.
PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
August 30, 2000
